In the wake of tightening mortgage requirements and a floundering realty market, longtime Las Vegan Rick Piette is connecting home buyers to mortgages through the privately-funded Premier Mortgage Lending and its new Another Chance Home Loan Program.
“There is a gaping hole and need among southern Nevadans who want to purchase a home but are unable to because of the current mortgage requirements or because their past includes a short-sale, foreclosure or bankruptcy. There are a lot of homes for sale and a lot of Nevadans who would love to buy them at today’s low prices, but they can’t for whatever reason. Premier Mortgage Lending offers these borrowers this opportunity through our privately-funded Another Chance Home Loan Program.”
As a 25-year-plus mortgage industry veteran, Piette encourages prospective home shoppers to become pre-qualified for a mortgage to determine not only their buying capacity but also mortgage program that best meets their needs.
“Premier Mortgage Lending offers prequalification at no cost, and whenever possible we absolutely 100 percent refer prospective borrowers to traditional mortgages. But, for those who don’t, we may be able to connect them to full-documentation loans through our Another Chance program,” Piette said.
Through Another Chance, private lenders and institutional portfolio lenders offer home loans in the purchase of residential properties. Full documentation underwriting guidelines are followed and at least a 20 percent down payment is required. Borrowers may close within 30 days from the time of loan.
“Another Chance is a ‘win-win-win-win’ program for buyers, investors, the state of Nevada and the Las Vegas community,” Piette said. “It’s is a ‘win’ for borrowers because they do not have to rent. They can take advantage of today’s low housing prices to buy a home of their own with mortgage payments lower than rent.
“It’s a ‘win’ for the investors from Nevada who can build capital while helping other Nevadans realize homeownership. It’s a ‘win’ for the state of Nevada because we are stopping the outflow of money to out-of-state investors who are buying up our houses and then renting them back to Nevadans,” he said.
“Finally, Another Chance is a ‘win’ for southern Nevada and small businesses by encouraging people to purchase homes, leading to fewer vacant homes and a stronger real estate market and property tax base.”
Premier Mortgage Lending, 8689 W. Sahara Ave., is open from 8 a.m. to 5 p.m. Monday through Friday. For details or to schedule an appointment, call 485-6600 or visit www.AnotherChanceNevada.com.
Premier Mortgage Lending (NMLS 393282) is a member of the American Association of Private Lenders, Las Vegas Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.